Pentagon’s Bold Move To Secure U.S. Rare Earth Mineral Needs
Digest more
Wyoming's first new coal mine in 50 years is said to be operating soon but it won't rely on the fossil fuel to make money.
In the chaos of war, there’s nothing to stop Chinese firms from ravaging the landscape and extracting the minerals, which end up in China.
Nintendo’s Switch 2 videogame machine uses a rare-earth magnet to attach its hand-held controllers to the main console, according to a teardown.
China is home to about 70% of the world's rare earth mining and 90% of refining capacity as a result of years of government support for the industry. Under the agreement, MP Materials will build a new US facility to increase how much of the raw materials from the mine it can turn into useable products.
Not only do we get coal here, we are going to get those rare earth elements that are going to break our dependence on China,” Energy Secretary Chris Wright told Fox News.
Explore more
Shares of rare-earth miner MP Materials have left Wall Street in the dust. One analyst is playing catch-up.
Importing cheap Chinese rare earths comes with big risks. In April, in response to President Trump’s tariffs, China temporarily suspended almost all exports of seven kinds of rare-earth metals, as well as some of the very powerful magnets made from them.
The European Parliament condemned China on Thursday over its export restrictions on rare earths and insisted the European Union must reject any attempts by Beijing to use the restrictions to force concessions from the bloc.